The $15.2 million purchase of 445 acres in Chatham County, North Carolina is slated to be the first step taken in Durham-based Wolfspeed's plans to create the world's largest materials facility.
The deal in the western portion of Chatham County was awarded a 2024 CoStar Impact Award for sale/acquisition of the year in Greensboro and Winston-Salem, as judged by real estate professionals familiar with the market.
The planned 1-million-square-foot facility will be built on property purchased from GGT Enterprises in a deal brokered by Samet Properties.
About the Project: The purchase price of the land at 10400 US Hwy 64 E. is only a small portion of a $5 billion dollar investment in the silicon carbide production facility. The project will receive support both from state and local governments, with a $1 billion incentive package. Over eight years, the facility is expected to create roughly 1,800 jobs and increase Wolfspeed's materials capacity more than 10 times.
What the Judges Said: Judges praised both the scope and impact of the development. “Huge win for the region. Solidifies the Carolina core as a high-tech corridor,” said Robbie Perkins, shareholder and market president for NAI Piedmont Triad. “When an acquisition leads to the largest investment in North Carolina Economic Development history (at the time), it's the obvious choice for sale/acquisition of the year. The Wolfspeed impact has also spread to additional leased facilities and their suppliers leasing space in the Triad market,” said Ryan Conboy, senior director for Cushman & Wakefield.
They Made it Happen: Brian Hall of Samet Corporation, sellers Tim Booras and David Griffin, Brian Pearce of Maynard Nexsen and Nathan Duggins of Tuggle Duggins.